As a financial loan professional, this man has witnessed many changes in Chinese consumer payment methods since 2020. People first relied mainly on WeChat Pay, Alipay, and bank cards. But since the second half of 2024, credit cards and Huabei credit have become the dominant payment methods. This reflects that many ordinary people now depend heavily on borrowing to get by. Consumption habits have also changed. Previously, ordering three dishes and a soup in restaurants was normal. Now the most common request is “Boss, just a fried noodle, extra portion,” not only to save money but also because economic decline is hitting everyone hard. Consumption has shrunk to survival spending, and the retail market has become stagnant. In 2025, the wave of store closures may worsen. The simple joys of city life have turned into luxury items.
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